What’s the Ice Cream Truck Bringing Next
You haven’t heard from us in a while, the team has been head down building. Last week we had a team meeting where we were actually talking about the fact that it’s crazy we are releasing Sorbetto and not just using it for internal yield.
What we’ve achieved with it you will see in the coming week.
We have two things to release: Sorbetto Fragola, and Sorbetto Limone. We have a larger explainer post coming, after the launch, in a few days.
But in short, the products are:
Sorbetto Fragola: Non custodial liquidity providing optimization for Uniswap V3.
Sorbetto Limone: Multichain liquidity providing optimization and distribution between DEXs.
The state of these two flavors is that they are being tested. Testing is going very well, we are currently adding a few more pairs to Fragola:
- USDC/ETH
- WBTC/ETH
- USDT/ETH
- DAI/ETH
- UNI/ETH
- LINK/ETH
In order to make it worthwhile, we need to make sure that volumes are high enough before we add a new pair. So we will be adding more pairs as time progresses and we have had time to monitor them.
Limone is still under development and not fully complete, thus the launch of this will be a little later, pairwise, any pair that is being incentivized on any of the supported chains can potentially be added.
Fragola
Execution of Ranges:
The changes of the ranges of Fragola are currently being calculated off chain, and in order for functions on chains to be executed, they must be called by an entity outside the contract. This is simply how smart contracts work. In order for this to happen in a decentralized manner, multisigners will have to sign these transactions. We can start off Fragola with only the team signing transactions but over the next 2–4 weeks we should definitely have community multisigners that are also located around the world.
For now, only two multisigners have made it past the voting stage:
Cobra (based in Europe): https://popsicle.finance/governance/voting/60c38cc3e6d8260015c9d535
Ceazor (based in Asia):
https://popsicle.finance/governance/voting/60c08d9be6d8260015c9d3fd
Others are still in the proposal stage:
Atakan-Intro to Defi:
https://popsicle.finance/governance/proposal/60bfdafde6d8260015c9d3ac
As94:
https://popsicle.finance/governance/proposal/60be3cd3e6d8260015c9d2c1
Fisher:
https://popsicle.finance/governance/proposal/60bfcfa6e6d8260015c9d3a0
DeFI Baba:
https://popsicle.finance/governance/proposal/60be5b10e6d8260015c9d2e5
Piburu:
https://popsicle.finance/governance/proposal/60be6ea8e6d8260015c9d2fb
Launch Limits:
In order to monitor Fragola, once it is live, we will be putting initial launch limits in place. These are still to be decided but most likely the first day of Fragola will have a limit of $1.5m, which will likely be scaled up on a regular basis.
Fees:
When Fragola is launched, nICE staking will not be available immediately. The fees however will be extracted, stored in a treasury, and will be distributed to all nICE holders once nICE staking is available (after Limone launch). The fees will start off as 10% of every profit harvest. More info about this is coming soon.
Emissions:
Due to the fact that there is a TVL limit initially of $1.5m, there will not be any incentive for depositing. Based on the amount of funds added to the LP and the returns of the LP we will determine whether incentivization is needed.
Limone
With Limone some building still needs to occur. We will provide more information as soon as it is available!
So what is next once the launch of Fragola has occurred?
Once Fragola is launched, the launch of Limone will be near, more on that in a later post.
I am sure you are curious what is next in line for the team then:
- Optimization — the LP strategy for Fragola will likely be able to be optimized, as we have more data, we will be better at calculating what proper ranges are as the system acknowledges and experiences different volatility, volume, and liquidity profiles.
- Additional LP strategies — We are currently deploying only one LP strategy, while various strategies can be created: an aggressive strategy, a conservative strategy, and much more.
- Additional chains for Limone — We will continue to push the aspect of truly being chain agnostic as more EVM compatible chains launch.
- From Multichain to Crosschain — We will work on making Limone crosschain rather than simply multichain, as our original vision was in order to provide liquidity on the chains that most need it.
I hope that this update has answered a lot of questions for you!
